RBA Governor Philip Lowe Justifies Unexpected Rate Hike Amid Recession Fears 💰

The Reserve Bank's latest interest rate rise has sparked warnings Australia is edging closer to a recession, but the bank's governor has defended the decision. Philip Lowe says it was a close call whether to leave rates on hold for the second month or act again. But in the end, there was a strong consensus the RBA determined it can't wait forever to bring inflation back down.